On the one hand, I'm happy that Flickr will stay alive but on the other, I'm worried about what Smugmug will do to it regarding policy.
Smugmug's Acceptable Use Policy [0] is rather puritan, forbidding things that are "indecent", "lewd", "sexually suggestive" or anything else that "in the sole judgment of SmugMug, is objectionable, harmful".
Flickr's [1] on the other hand is rather accepting: "If you would hesitate to show your photos or videos to a child, your family, or a stranger on the street, that means you need to set the appropriate content filter setting."
I really hope Smugmug doesn't force their ideals on Flickr. It'd be nice if instead they used Flickr as an example of how to loosen content restrictions on Smugmug.